Crude finished off of best levels with both.....>

OIL: Crude finished off of best levels with both WTI & Brent futures trading

around $0.10 higher at $62.10 & $65.60 respectively.

- A pullback in last week's Baker Hughes rig count data helped to underpin

prices, although an interview with the Iranian energy minister, released over

the weekend, pointed to dissent within OPEC. Iran favours oil prices around

$60/bbl (as to not entice US shale producers), while Saudi Arabia is said to

favour prices of $70/bbl. The Iranian oil minister also suggested that easing

OPEC production limits may be on the cards in 2019.

- Despite looking heavy last week, WTI's $59.18-91 support region where the

100-DMA ($59.25) and bull channel base ($59.18) are located confirmed

significance with a rally that provides bulls breathing room and hints at a test

of $63.05-64.07 this week. Overall a close above $64.07 remains needed to return

focus to $66.02-68.21. Bears need a close below $59.18 to hint at a move back to

$53.30-55.40 with below $57.11 (Bull channel base) to confirm.